Europe’s stock markets, the dollar and oil all had a spring back in their step on Thursday as a deflationary jolt from China made way for broader optimism ahead of what was set to be the Bank of England’s 12th straight rate rise later.
Hopes that the U.S. Federal Reserve’s aggressive hiking cycle may be over at least was still feeding through following inflation data there on Wednesday, with the pan-European STOXX 600 index (.STOXX) up 0.5% and key borrowing costs inching down.
Sterling was seeing some profit taking after it had hit a one-year high and with the Bank of England poised to crank UK borrowing costs up another quarter point to 4.5% at 1100 GMT.
JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.